State of the Sector

Digital Transformation and Cyber Security

As the third largest consumer of energy, India is rapidly guzzling oil. India’s oil demand is expected to rise threefold by 2035 to 1,516 million tonnes of oil. This is a time of rapid growth for the oil and natural players as investments catering to rising demand are beginning to pay off.

The industry is expected to attract US $25 billion investments in exploration and production by 2022. This is in part due to the government’s allowance of 100% FDI in upstream and private sector refining alongside policies such as Open Acreage Licensing Policy and Cool Bed Methane policy.

As one of the eight core sectors, oil and gas sector assumes national importance in the performance of all other industrial areas. India’s growth story is parallel to its energy story and therefore, it becomes important to take stock of the investments in the oil and gas sector and its performance overall over the last four-five years.

Specifically, the government has taken multiple steps to boost the sector including allowing FDI in many segments of the sector including natural gas, petroleum products and refineries among others. A gas exchange is also supposed to come up in order to bring market-driven pricing in the energy market of India and the proposal for the same is ready to be taken up by the government. At this hour, SKOCH’s 55th summit “State of Oil and Gas” seeks to take a look at the current and medium to long-term of the ever-important sector and discuss the following:

  • Panel Discussion on State of the Sector (this Panel would examine progress thus far, current challenges, medium term plans)
  • Panel Discussion Digital Transformation and Cyber Security (this Panel would examine innovation, smart energy, role of analytics and cyber security)

We look forward to welcoming you!